I have received several calls and emails from friends and clients of late asking if, at a level of 15,000 on the Dow Jones Industrials, the stock market has gotten ahead of itself. Certainly, measured from the trough in March of 2009, equities generally, and the Dow specifically, have more than doubled in price. That’s … Continued
I woke up this morning with some great news about a client of mine who is a professional athlete (he gave me permission to share). He has been called up to the Major Leagues! This in itself is quite a feat, but his circumstances make it even more extraordinary as he is pitching with a … Continued
At JP Morgan Chase’s annual meeting tomorrow, shareholders will be given the opportunity to vote on whether the roles of Chairman of the Board and Chief Executive Officer should be held by the same individual. Quoting from an article published by American Banker on May 15, 2013, William Isaac states the following: “…much of the … Continued
Having just returned from a voyage that included a stop at Gibraltar, I was reminded of just how dependent the world is on ocean traffic and the existence of several major, potential choke points, such as Gibraltar, Suez and the Straits of Hormuz. The US, accounting for more than 20% of the world’s goods and … Continued
During a recent portfolio review with one of my clients, she asked me why she didn’t have to pay any taxes last year even though her portfolio had substantially increased in value. She said the income and gains reported on her tax return were minimal. She was expecting a large tax bill given the portfolio … Continued
The most recent Presidential proposal to raise tax revenue once again targets the two percent. But does it? The proposal would cap the tax exemption at 28%; for those in higher brackets income derived from municipal bonds would be taxed for the percent their tax bracket is above that waterline. For example, consider someone who … Continued
The press is rife with references to the Dow Jones Industrials having recently reached a new high level of 15,000. What does it mean? Is the stock market ready to back off having more than doubled off of the March 2009 lows? Is this the early stages of a new bull market, as legendary investor … Continued
A few days ago, PBS Frontline ran a made-for-TV special titled “The Retirement Gamble”. Given the stir that this piece generated in our mainstream media as well among our clients, I felt it would be worthwhile to comment. First, we agree with the premise that most Americans are not adequately prepared for retirement. That is, … Continued
Last week at a luncheon I attended everyone in the room was asked to introduce themselves and give a brief overview of what they do. One woman’s introduction stood out. She introduced herself and then said “I sell people lifetime income streams. I don’t deal in stocks, bonds, or mutual fund investing. I give people … Continued
While it is unlikely that Voltaire had fossil fuels in mind when he wrote those words, several hundred years ago, the fit, for the US, is quite compelling. We use and need a lot of energy. We account for approximately 5% of the world’s population but contribute more than 20% of the world’s goods and … Continued
Sigma Investment Counselors President and CEO, Bob Bilkie, CFA, recently submitted the following in response to the US Securities and Exchange Commissions’ Request for Comment regarding Duties of Brokers, Dealers, and Investment Advisers for those providing investment advice (Release No. 34-69013; IA-3558; File No. 4-606). Thank you for providing a comment period pursuant to your … Continued
The Wall Street Journal carries a headline today titled “Growls Keep Coming From the Bear’s Den”. This article, which touts warnings from investment strategists about bad things to come for common stock investors, arrives on the heels of one of the best periods for investing in stocks (the four years and also the three months … Continued
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